RBA monetary policy statement due at the bottom of the hour

Earlier preview here:

• preview of this is here

And, from the RBA meeting on Tuesday (Feb 1)

• Highlights of the February 1 RBA rate decision and statement from Philip Lowe

Eyes are on revised forecasts from the Bank in the SoMP. But, says NAB:

• Given Governor Lowe’s extensive discussion around the forecasts earlier this week the SoMP is unlikely to be market moving. In that speech Dr Lowe said the RBA is still “prepared to be patient ” as they await more information on wages growth and the outlook and trajectory for inflation until they can conclude inflation is sustainably at target.
• Interest rate rises starting later in 2022 were deemed “a plausible scenario”, but “it’s still quite plausible that the first increase…is a year or longer away ”.